Raleigh, N.C.—-What do doctors treating tuberculosis in sub-Saharan Africa and corporate executives struggling to gain market share for their new product have in common? The opportunity to use big data.
The effective application of big data analytics to research can help a variety of organizations from virtually all industries make better decisions before investing significant resources, whether it’s selecting which novel potential drug to pursue, choosing how to position a new product or determining where to expand a company’s operations. It all starts with asking the right questions and tapping into “unstructured” data sources—like blogs and press releases– that industry databases can’t decipher and typical search engines take too long to process.
The problem? Few organizations have experts with both the business acumen and technical skills required to take advantage of the benefits of big data—especially unstructured data—analytics.
The Center for Innovation Management Studies (CIMS) at N.C. State’s Poole College of Management does have these experts, who have enlisted big data analytics as a tool to boost innovation management processes.
They’ll share their experiences and knowledge applying big data to real-world problems at CIMS’ spring meeting on Wednesday, April 23, at the Raleigh Marriott City Center in Raleigh, N.C. The meeting is open to the public, with member, N.C. State faculty, and non-member pricing.
Dr. Paul Domanico, Ph.D., senior director of research and director at the Clinton Health Access Initiative (CHAI). Dr. Domanico will discuss how his organization has partnered with CIMS and another Poole College of Management program, the BioSciences Management MBA program, to create an infectious-diseases decision model based on the CIMS methodology and directed big data analytics platforms. The purpose: To help gain a comprehensive understanding of tuberculosis and opportunities in TB-diagnostics that are relevant to diagnosing and treating afflicted persons in low-wealth countries.
Steve Sides, vice president of science, technology and environmental policy at the American Coatings Association. He’ll discuss how his association—the only professional-membership member in the 30 year history of CIMS—is turning to CIMS to help its members be better positioned to exploit opportunities and avoid setbacks. Together with CIMS, the ACA is establishing a software program that its member companies can access in order to ask specific, strategic questions unique to their situation.
Paul Mugge, executive director, CIMS. “Follow the money” applies in many scenarios, including the gathering of business intelligence, according to Mugge. He’ll share how he and two grad students have been applying big data tools to the funding award announcements of organizations such as the National Institutes of Health, the National Science Foundation, the Department of Energy, and others, plus investments by venture capital firms, all in an effort to see if the sectors receiving money could be potential areas of opportunity for member companies.
Graduate Assistant, Eric Fish, along with CIMS Academic Fellow, Dr. Mariann (Sam) Jelinek, will present how CIMS is using Analytic Hierarchy Process (AHP) to break down complex strategic questions into the specific information criteria needed to answer them.
The meeting runs from 8:30 a.m. to 5 p.m., with an optional lunch and pre-meeting networking breakfast also available. Registration closes on April 18. Click here for pricing and registration details.
The Center for Innovation Management Studies (CIMS) is the leading authority on innovation management and innovation research and represents a unique convergence of academia and industry. With today’s businesses as its focus, CIMS creates, synthesizes and disseminates information on innovation management. It also helps develop current and future generations of innovation-management researchers and practitioners. Founded in 1984, CIMS is dedicated to fostering a collaborative environment among scholars, researchers and business executives. Its location helps advance this mission: CIMS is housed in the College of Management at N.C. State in the vibrant, technology-rich Research Triangle Park region of North Carolina. For more information, visit the CIMS web site.